EX-12 2 l28690aexv12.htm EX-12 EX-12
 

EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in thousands, except ratio amounts)
                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2007     2006     2007     2006  
Income from continuing operations before income taxes
   $ 56,309     $ 56,437     $ 214,012     $ 227,719  
Share of undistributed losses from 50%-or-less-owned affiliates, excluding affiliates with guaranteed debt
     1,227       536       1,107       1,352  
Amortization of capitalized interest
     409       310       987       918  
Interest expense
     10,698       11,704       30,422       37,487  
Interest portion of rental expense
     1,572       1,126       4,643       3,223  
 
                        
Earnings
   $ 70,215     $ 70,113     $ 251,171     $ 270,699  
 
                        
 
                                
Interest
   $ 12,794     $ 12,775     $ 35,227     $ 39,699  
Interest portion of rental expense
     1,572       1,126       4,643       3,223  
Interest expense relating to guaranteed debt of 50%-or-less-owned affiliates
     —       —       —       —  
 
                        
Fixed Charges
   $ 14,366     $ 13,901     $ 39,870     $ 42,922  
 
                        
 
                                
Ratio of Earnings to Fixed Charges
     4.89       5.04       6.30       6.31